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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)
6 Months Ended
Jun. 30, 2015
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS).  
Schedule of components of other comprehensive income (loss)

 

 

 

 

Before Tax

 

Tax Effect

 

Net of Tax

 

 

 

(Dollars in thousands)

 

Three Months Ended June 30, 2015

 

 

 

 

 

 

 

Net unrealized losses on investment securities:

 

 

 

 

 

 

 

Net unrealized losses arising during the period

 

$

(20,752

)

$

(8,259

)

$

(12,493

)

Less: Reclassification adjustment for losses realized in net income

 

1,866

 

743

 

1,123

 

Net unrealized losses on investment securities

 

(18,886

)

(7,516

)

(11,370

)

 

 

 

 

 

 

 

 

Defined benefit plans:

 

 

 

 

 

 

 

Amortization of net actuarial losses

 

421

 

170

 

251

 

Amortization of net transition obligation

 

4

 

2

 

2

 

Amortization of prior service cost

 

5

 

2

 

3

 

Defined benefit plans, net

 

430

 

174

 

256

 

 

 

 

 

 

 

 

 

Other comprehensive loss

 

$

(18,456

)

$

(7,342

)

$

(11,114

)

 

 

 

 

 

 

 

 

Three Months Ended June 30, 2014

 

 

 

 

 

 

 

Net unrealized gains on investment securities:

 

 

 

 

 

 

 

Net unrealized gains arising during the period

 

$

17,251

 

$

6,797

 

$

10,454

 

Less: Reclassification adjustment for losses realized in net income

 

(240

)

(96

)

(144

)

Net unrealized gains on investment securities

 

17,011

 

6,701

 

10,310

 

 

 

 

 

 

 

 

 

Defined benefit plans:

 

 

 

 

 

 

 

Amortization of net actuarial losses

 

305

 

120

 

185

 

Amortization of net transition obligation

 

4

 

2

 

2

 

Amortization of prior service cost

 

5

 

2

 

3

 

Defined benefit plans, net

 

314

 

124

 

190

 

 

 

 

 

 

 

 

 

Other comprehensive income

 

$

17,325

 

$

6,825

 

$

10,500

 

 

 

 

Before Tax

 

Tax Effect

 

Net of Tax

 

 

 

(Dollars in thousands)

 

Six Months Ended June 30, 2015

 

 

 

 

 

 

 

Net unrealized losses on investment securities:

 

 

 

 

 

 

 

Net unrealized losses arising during the period

 

$

(9,276

)

$

(3,692

)

$

(5,584

)

Less: Reclassification adjustment for losses realized in net income

 

1,866

 

743

 

1,123

 

Net unrealized losses on investment securities

 

(7,410

)

(2,949

)

(4,461

)

 

 

 

 

 

 

 

 

Defined benefit plans:

 

 

 

 

 

 

 

Amortization of net actuarial losses

 

841

 

335

 

506

 

Amortization of net transition obligation

 

8

 

4

 

4

 

Amortization of prior service cost

 

10

 

4

 

6

 

Defined benefit plans, net

 

859

 

343

 

516

 

 

 

 

 

 

 

 

 

Other comprehensive loss

 

$

(6,551

)

$

(2,606

)

$

(3,945

)

 

 

 

 

 

 

 

 

Six Months Ended June 30, 2014

 

 

 

 

 

 

 

Net unrealized gains on investment securities:

 

 

 

 

 

 

 

Net unrealized gains arising during the period

 

$

33,195

 

$

13,165

 

$

20,030

 

Less: Reclassification adjustment for losses realized in net income

 

(240

)

(96

)

(144

)

Net unrealized gains on investment securities

 

32,955

 

13,069

 

19,886

 

 

 

 

 

 

 

 

 

Defined benefit plans:

 

 

 

 

 

 

 

Amortization of net actuarial losses

 

610

 

243

 

367

 

Amortization of net transition obligation

 

8

 

4

 

4

 

Amortization of prior service cost

 

10

 

4

 

6

 

Defined benefit plans, net

 

628

 

251

 

377

 

 

 

 

 

 

 

 

 

Other comprehensive income

 

$

33,583

 

$

13,320

 

$

20,263

 

 

Schedule of changes in each component of AOCI, net of tax

 

 

 

 

Investment
Securities

 

Defined
Benefit
Plans

 

Accumulated
Other
Comprehensive
Income (Loss)

 

 

 

(Dollars in thousands)

 

Three Months Ended June 30, 2015

 

 

 

 

 

 

 

Balance at beginning of period

 

$

20,495

 

$

(10,167

)

$

10,328

 

 

 

 

 

 

 

 

 

Other comprehensive loss before reclassifications

 

(12,493

)

 

(12,493

)

Amounts reclassified from AOCI

 

1,123

 

256

 

1,379

 

Total other comprehensive income (loss)

 

(11,370

)

256

 

(11,114

)

 

 

 

 

 

 

 

 

Balance at end of period

 

$

9,125

 

$

(9,911

)

$

(786

)

 

 

 

 

 

 

 

 

Three Months Ended June 30, 2014

 

 

 

 

 

 

 

Balance at beginning of period

 

$

451

 

$

(6,533

)

$

(6,082

)

 

 

 

 

 

 

 

 

Other comprehensive income before reclassifications

 

10,454

 

 

10,454

 

Amounts reclassified from AOCI

 

(144

)

190

 

46

 

Total other comprehensive income

 

10,310

 

190

 

10,500

 

 

 

 

 

 

 

 

 

Balance at end of period

 

$

10,761

 

$

(6,343

)

$

4,418

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 2015

 

 

 

 

 

 

 

Balance at beginning of period

 

$

13,586

 

$

(10,427

)

$

3,159

 

 

 

 

 

 

 

 

 

Other comprehensive loss before reclassifications

 

(5,584

)

 

(5,584

)

Amounts reclassified from AOCI

 

1,123

 

516

 

1,639

 

Total other comprehensive income (loss)

 

(4,461

)

516

 

(3,945

)

 

 

 

 

 

 

 

 

Balance at end of period

 

$

9,125

 

$

(9,911

)

$

(786

)

 

 

 

 

 

 

 

 

Six Months Ended June 30, 2014

 

 

 

 

 

 

 

Balance at beginning of period

 

$

(9,125

)

$

(6,720

)

$

(15,845

)

 

 

 

 

 

 

 

 

Other comprehensive income before reclassifications

 

20,030

 

 

20,030

 

Amounts reclassified from AOCI

 

(144

)

377

 

233

 

Total other comprehensive income

 

19,886

 

377

 

20,263

 

 

 

 

 

 

 

 

 

Balance at end of period

 

$

10,761

 

$

(6,343

)

$

4,418

 

 

Schedule of amounts reclassified out of each component of AOCI

 

 

 

 

Amount Reclassified from AOCI

 

Affected Line Item in the

 

 

 

Three Months Ended June 30,

 

Statement Where Net

 

Details about AOCI Components

 

2015

 

2014

 

Income is Presented

 

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

Sale of investment securities available for sale

 

$

(1,866

)

$

240

 

Investment securities gains (losses)

 

 

 

743

 

(96

)

Tax benefit

 

 

 

$

(1,123

)

$

144

 

Net of tax

 

 

 

 

 

 

 

 

 

Amortization of defined benefit plan items

 

 

 

 

 

 

 

Net actuarial losses

 

$

(421

)

$

(305

)

(1)

 

Net transition obligation

 

(4

)

(4

)

(1)

 

Prior service cost

 

(5

)

(5

)

(1)

 

 

 

(430

)

(314

)

Total before tax

 

 

 

174

 

124

 

Tax benefit

 

 

 

$

(256

)

$

(190

)

Net of tax

 

 

 

 

 

 

 

 

 

Total reclassifications for the period

 

$

(1,379

)

$

(46

)

Net of tax

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30,

 

 

 

 

 

2015

 

2014

 

 

 

 

 

 

 

 

 

 

 

Sale of investment securities available for sale

 

$

(1,866

)

$

240

 

Investment securities gains (losses)

 

 

 

743

 

(96

)

Tax benefit

 

 

 

$

(1,123

)

$

144

 

Net of tax

 

 

 

 

 

 

 

 

 

Amortization of defined benefit plan items

 

 

 

 

 

 

 

Net actuarial losses

 

$

(841

)

$

(610

)

(1)

 

Net transition obligation

 

(8

)

(8

)

(1)

 

Prior service cost

 

(10

)

(10

)

(1)

 

 

 

(859

)

(628

)

Total before tax

 

 

 

343

 

251

 

Tax benefit

 

 

 

$

(516

)

$

(377

)

Net of tax

 

 

 

 

 

 

 

 

 

Total reclassifications for the period

 

$

(1,639

)

$

(233

)

Net of tax

 

 

 

(1) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 14 for additional details).